Clockwork Home Services Expands Its Market Share in Indiana and Minnesota with New Acquisitions
SARASOTA, Fla.--(BUSINESS WIRE)--Clockwork Home Services, Inc. (Clockwork), one of North America's fastest-growing operators of home services franchises, today announced it has acquired Heating and Plumbing Consultants, Inc., based in Webster, Minnesota, effective March 1, 2008, and Woods Electric, Inc., in Indianapolis, Indiana, effective as of January 1, 2008.
The acquired companies will continue to operate in their respective markets as follows:
- Heating and Plumbing Consultants, Inc. will now operate under the brand name of O'Connor One Hour Air Conditioning & Heating as a fully-owned Clockwork retail unit. O'Connor One Hour Air Conditioning & Heating, based in Hastings, MN, was founded in 1946 and became a One Hour franchise in 2005. The integration of these units increases the size of the market served by Clockwork in the southeast region of Minnesota, outside of Minneapolis-St. Paul.
- Woods Electric, Inc. will now operate under the brand name of Mister Sparky America's On-Time Electrician-Indianapolis as a fully-owned Clockwork retail unit in the Indianapolis region.
Under terms of the deal, Clockwork is assuming ownership, rights and use of both companies' assets, intellectual property, trucks, equipment and offices. Prior owners and their employees have remained at each respective company as Clockwork employees. Additional terms were not disclosed.
"Clockwork is focused on growing its franchise brands in key markets across the US and in Canada," said Jim Abrams, CEO, Clockwork Home Services, Inc. "Acquisitions are a fundamental part of our strategy to expand our geographic footprint in North America with quality independent operations that are committed to Clockwork's best practices and high ethical standards."
Clockwork currently operates electrical, plumbing, heating and air conditioning franchises within its portfolio of home services franchises.
About Clockwork Home Services
Clockwork Home Services, Inc. is dedicated to improving the operations, efficiency, customer service and profitability of contractors in the home services industry in North America through affinity group membership and nationally branded franchises. Its companies include Mister Sparky® Franchising, Benjamin Franklin Plumbing® Franchising, One Hour Air Conditioning & Heating® Franchising, BuyMax®, Plumbers' Success International®, Electricians' Success International®, AirTime 500™, Roofers' Success International®, Success Academy®, AirTime Canada™ ULC, SuccessWare, Inc.® and company-owned One Hour® operations in Nevada, Florida, Tennessee, Minnesota, Indiana, California, Ohio, South Carolina, Colorado and throughout Canada; company-owned Benjamin Franklin Plumbing® operations in Indiana, Tennessee, Minnesota, Ohio, California and Colorado; and company-owned Mister Sparky® operations in Colorado, Indiana and Georgia. In 2007, Clockwork was ranked #822 on Inc. magazine's Inc. 5,000® list of fastest-growing private companies in the United States. For more information, visit www.clockworkhomeservices.com
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